BELMONT, NC-American Residential Investment Management has paid $9.4 million to acquire Abbey Court Apartments, a 176-unit apartment complex situated in Belmont. Philadelphia, Pennsylvania-based Madison Apartment Group was the seller of the multifamily property. Cushman & Wakefield's Brandon Whitesell negotiated the sale. NorthMarq Capital facilitated a fixed rate Fannie Mae loan with a 10-year term and a 30-year amortization.
According to American Residential, it will oversee the renovation and manage the routine activities of the complex. For the full story, go to Triangle Business Journal .
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